Amid the continuing gloom over the economy, including in the real estate sector, has come some good news for property developers as for with other sectors in the economy, including telecom and the media.

A substantial revision of the Foreign Direct Investment (FDI) policy of the government announced this week in New Delhi holds out some cheer, though experts believe its influence on the now-stumbling property business will unfold only over a long period.

The FDI policy revision has been aimed at making future FDI processes simple and transparent. It was proposed by the Department of Industrial Policy and Promotion and considered by the Group of Ministers. Finer details of the new guidelines are awaited over the next two weeks....

The allocations for flagship programmes in the interim budget will help develop rural and urban infrastructure.

The Interim Union Budget presented in Parliament last week is expected to give an impetus to development of rural and urban infrastructure. Work in rural areas is expected to benefit from the higher allocation for the flagship National Rural Employment Guarantee Programme. In urban areas, the higher allocation for the Jawaharlal Nehru National Urban Renewal Mission will help. The seven-year mission is being implemented in cities across the country, including Kochi and Thiruvananthapuram.

As the impact of the worldwide economic recession unfolds, the housing sector is in focus. Several big-time builders in metros slash prices, while smaller cities such as Kochi see fewer new projects. ...

It will be easier for the board now to take loans for new projects. K.A. MARTIN says the institution is firming up plans to use its property in the three major cities of the State.

The Kerala State Housing Board (KSHB) has something to cheer about in the State Budget for 2009-10.

With complaints of neglect in the last two budgets, the new one has offered a lifeline to the institution, established with an eye on making housing market intervention for the economically weaker sections of society. ...